(Business in Cameroon) – JMJ Participation, the parent company of JMJ Africa, which was recently recognized by the Investment Promotion Agency (API) as the “best investment consulting firm” in Cameroon, has entered into a strategic partnership with China’s Hejun Group. Hejun Group is a leader in China in consulting, business education, and private equity.
According to a joint statement from the two companies, the partnership was signed on September 7, 2024, in Beijing during the 4th edition of the “China-Africa Cooperation Forum.” The agreement aims to expand business opportunities between China and Africa.
The collaboration is intended to create a bridge that will facilitate investments, boost trade, and strengthen cooperation between Chinese and African businesses. The focus will also be on sharing best business practices and building synergies for the development of trade and industry.
The key sectors targeted by this partnership include education, particularly through the promotion of business schools, consulting, management, and private equity, the companies stated.
Hejun Group serves over 8,000 clients worldwide, including major companies like Bayer, Samsung, Michelin, Goldman Sachs, and BMW. JMJ has been involved in several major projects in Cameroon, particularly in the industrial and commercial sectors, including Neo Industry, Atlantic Cocoa, Novia Industries, and Douala Grand Mall. The firm also advises Prometal, a steel giant in Central Africa, and is active in Côte d’Ivoire, where it has supported cement and milling projects across West Africa.
The two companies share a common strategic vision and are committed to working closely to promote both Africa and China in their respective spheres, leveraging their local market knowledge for the benefit of their clients, according to the statement.
This partnership could further strengthen economic cooperation between China and Africa, where China has expanded its influence in recent years. In Cameroon, for example, China has been the country’s largest supplier for over a decade. According to data from the National Institute of Statistics (INS), Cameroon’s imports from China increased by 82% between 2017 and 2023. However, Cameroon’s trade deficit with China also widened during this period, reaching CFA714.3 billion in 2023, compared to CFA289.2 billion in 2017.
China has also become the main builder of infrastructure in Cameroon and the largest bilateral lender for development projects in the country. Official data shows that, in 2023, 64.5% of Cameroon’s bilateral debt and 26.2% of its external debt were owed to China.
